April 16, 2014
Wednesday Edition
Alabama Telco cited for great rates

A recent GoBankingRates survey shows that credit unions continue to offer strong interest rates on deposit products and once again shut out banks. The findings also show that credit unions stay high above the national averages.

Across the board, credit unions were ahead of banks with numbers such as:

  •  Savings: Credit unions, 0.14 percent annual percentage yield (APY) vs. banks, 0.11 percent
  •  Checking: Credit unions, 0.31 percent vs. banks, 0.20 percent
  •  Money market: Credit unions, 0.19 percent vs banks, 0.15 percent

The survey also pointed out the top ten credit unions and their products. Alabama Telco CU, based in Birmingham, was cited for its Centsible Savings account which works like a "keep the change" savings program and has three percent APY.

GOBankingRates surveyed interest rates for more than 26,700 deposit accounts offered by banks and credit unions in the U.S. as of April 1, with an assumed deposit of $10,000. It did not include rates for online-only financial institutions.

Read more about Alabama Telco's Censible Savings account on GoBankingRates website.

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Florida legislature off for Passover and Easter

The Florida legislature is taking off the seventh week of the 2014 session because of conflicts with the Passover and Easter holidays. Upon their return, the majority of focus will be on passing the states $75 billion budget before session adjourns on May 2. 

On Monday April 21, HB 151 by Rep. Heather Fitzenhagen (R-Ft. Myers), will be heard on the House floor. The bill, titled the Keeping I.D. Safe (K.I.D.S.) Act, would allow parents and guardians to set up a credit record for their child and freeze it, protecting that child's Social Security number and other personal information until the child is ready to use credit. The law would also apply to vulnerable adults who have a legal guardian. The Senate version, SB 242 by Sen. Nancy Detert (R- Venice), has already been passed out of the senate.

Contact LSCU & Affiliates Grassroots and Political Action Coordinator Andy Gonzalez at 866.231.0545 ext. 101 with any questions.

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Check out speakers for 2014 Southeast CU Conference

With 20 education sessions at the 2014 Southeast Credit Union Conference and Expo (SCUCE), you will want to peruse the sessions and speakers to plan out your daily schedule. Below are just a few of the speakers and their sessions. Click on the link to read a description of each session.

Matt Davis, co-founder, 6th Story, will speak on Innovation, Gamification & Making Ideas Happen and Cooperation Among Cooperatives: A User’s Guide

Mike Schenk, VP, Economics & Statistics, Credit Union National Association, will speak on The Economy:  Now!

Patrick Adams, CEO, St. Louis Community Credit Union, will talk to attendees about Lending: Status Kwo is Kwazy Talk

To view the complete schedule-at-a-glance visit the 2014 SCUCE website. Don't delay, there is still plenty time to register! The process is easy and fast with online registration. Members will need to login to the website to register.

If you are out of state and would like to attend, contact LSCU Director, Conferences Julianne Talley at 866.231.0545, ext. 1148.

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CFED webinar to detail youth financial ed study findings

In an upcoming free webinar on April 23 from 3-4 p.m. (EST), CFED will describe findings, research methods, and implications for youth financial literacy programs culled from their Assessing Financial Capability Outcomes (AFCO) Youth Pilot project.

The AFCO youth pilot was designed to test the effect of approximately five hours of classroom-based financial education and access to a bank or credit union branch in school on students’ financial knowledge, behavior, and attitudes. Visit the CFED website to register for the webinar.

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In This Issue
Wednesday Edition
Alabama Telco cited for great rates
Florida legislature off for Passover and Easter
Check out speakers for 2014 Southeast CU Conference
CFED webinar to detail youth financial ed study findings
LSCU & Affiliates Media

Alabama Credit Union Act Update
LSCU & Affiliates Director of Regulatory Advocacy Scott Morris goes over some of the important parts of the update to the Alabama Credit Union Act.

President's 1Q Video
LSCU president/CEO gives his first quarter video for 2014. He looks at the CUNA GAC, tax reform, and the new Southeast Credit Union Conference. He also talks about the 2014 Dues Rebate.

Upcoming Event Deadlines
Extended to April 22 Last Day for Early Bird Rate for OFAC & Bank Secrecy Act School – Birmingham, AL

Extended to April 22 Last Day for Early Bird Rate – Disaster Recovery Conference – Mobile, AL

Extended to April 24 Last Day for Early Bird Rate – Disaster Recovery Conference – Jacksonville, FL

May 2 Last Day for Early Bird Rate – SAS Credit Union Conference - Tallahassee, FL
Upcoming League Events
TODAY Official Demand for Member Funds
April 17 - Risk Based Capital meeting in Birmingham
April 17 Examination Findings of the CFPB
April 21 - Risk Based Capital Meeting in Gainesville
April 22 Negotiable Instrument Precautions
April 22 - Risk Based Capital Meeting in Tampa
April 23 Ability to Repay-Comply with SFPB Rules
April 23 - Risk Based Capital Meeting in Orlando
April 24 - Risk Based Capital Meeting in Huntsville
April 24 BSA Officer Duties & Update
April 24 - Risk Based Capital Meeting in West Palm Beach
April 25 - Risk Based Capital Meeting in Tallahassee
May 13 SAS Credit Union Conference
April 30 - Risk Based Capital Meeting in Mobile
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